FROM being called вЂworse than loan sharks,’ to more basic reviews stating that it really is extremely difficult getting that loan through the web web site, UangTeman is surviving, as well as, apparently thriving.
Talking recently to Digital Information Asia (DNA) in Jakarta, its cofounder and ceo Aidil Zulkifli (pic above) admits as a free promotional tool that he struggled with the bad publicity at first, but managed to use it.
вЂњWe are actually nine months old, operating fast and doing pretty much. Being a startup, you shouldn’t be scared of bad press; you merely should try to learn simple tips to handle it,вЂќ he claims.
UangTeman, or вЂFriend’s cash’ in English, began operations in April 2015, and has now been growing 20% to 25per cent month-on- thirty days since, according to Aidil.
The services that are financial (fintech) startup dispenses payday advances to individuals in need of assistance: Little, short-term loans to simply help borrowers endure because of their day-to-day requirements until their next paycheque.
Borrowers usually takes around no more than Rp2 million (US$148.60) and no less than Rp1 million (US$74.20) the time that is first but are charged a 1% rate of interest each day for the following 18 to 25 times.
Even though many understand 1% day-to-day rate of interest as an excessive amount of, Aidil argues that this is actually the only charge that clients need certainly to deal with вЂ“ there are no management or processing costs.
He keeps the attention price is вЂњrelatively okayвЂќ compared utilizing the danger the faces that are startup day.
вЂњWe aren’t a bank; we try not to gather cash from individuals. The funds we provide to the clients originates from our own вЂfriendly’ pockets,вЂќ declares the Singaporean-born previous lawyer.
He additionally stresses that UangTeman is certainly not contending utilizing the banking institutions, however with the mortgage sharks and casual loan providers in the marketplace. (mais…)